Merchants' National Properties Inc
Merchants' National Properties, Inc. engages in acquiring, developing, operating, and leasing real estate in the United States. Its asset portfolio includes shopping centers, office buildings, and other commercial real estate properties. The company was founded in 1815 and is headquartered in New York, New York.
Merchants' National Properties Inc (MNPP) - Net Assets
Latest net assets as of September 2025: $229.61 Million USD
Based on the latest financial reports, Merchants' National Properties Inc (MNPP) has net assets worth $229.61 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($324.04 Million) and total liabilities ($94.43 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $229.61 Million |
| % of Total Assets | 70.86% |
| Annual Growth Rate | 2.25% |
| 5-Year Change | 9.89% |
| 10-Year Change | N/A |
| Growth Volatility | 8.86 |
Merchants' National Properties Inc - Net Assets Trend (2015–2024)
This chart illustrates how Merchants' National Properties Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Merchants' National Properties Inc (2015–2024)
The table below shows the annual net assets of Merchants' National Properties Inc from 2015 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $222.86 Million | +1.21% |
| 2023-12-31 | $220.19 Million | +2.51% |
| 2022-12-31 | $214.79 Million | -3.32% |
| 2021-12-31 | $222.18 Million | +9.55% |
| 2020-12-31 | $202.81 Million | +3.30% |
| 2019-12-31 | $196.34 Million | -18.48% |
| 2018-12-31 | $240.85 Million | +13.68% |
| 2017-12-31 | $211.86 Million | +8.02% |
| 2016-12-31 | $196.12 Million | +7.48% |
| 2015-12-31 | $182.47 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Merchants' National Properties Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 66.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $225.72 Million | 107.19% |
| Common Stock | $105.20K | 0.05% |
| Total Equity | $210.59 Million | 100.00% |
Merchants' National Properties Inc Competitors by Market Cap
The table below lists competitors of Merchants' National Properties Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
HORIZON FIXTURE GROUP CO LTD
TW:6957
|
$119.43 Million |
|
PROCAPS GRP S.A. DL -01
F:9X1
|
$119.43 Million |
|
NH Hoteles
MC:NHH
|
$119.44 Million |
|
Jeld-Wen Holding Inc
NYSE:JELD
|
$119.50 Million |
|
Indigo Acquisition Corp. Ordinary Shares
NASDAQ:INAC
|
$119.41 Million |
|
Eternal Hospitality Group Co.,Ltd.
PINK:TORIF
|
$119.40 Million |
|
Cuckoo Homesys Co Ltd
KO:284740
|
$119.32 Million |
|
Promotora Ambiental S.A.B. de C.V
MX:PASAB
|
$119.28 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Merchants' National Properties Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 207,406,322 to 210,587,254, a change of 3,180,932 (1.5%).
- Net income of 9,943,457 contributed positively to equity growth.
- Dividend payments of 7,278,850 reduced retained earnings.
- Share repurchases of 75,375 reduced equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $9.94 Million | +4.72% |
| Dividends Paid | $7.28 Million | -3.46% |
| Share Repurchases | $75.38K | -0.04% |
| Other Changes | $591.70K | +0.28% |
| Total Change | $- | 1.53% |
Book Value vs Market Value Analysis
This analysis compares Merchants' National Properties Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.74x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 1.10x to 0.74x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2015-12-31 | $1570.04 | $1725.00 | x |
| 2016-12-31 | $1671.80 | $1725.00 | x |
| 2017-12-31 | $1922.52 | $1725.00 | x |
| 2018-12-31 | $2590.67 | $1725.00 | x |
| 2019-12-31 | $2038.13 | $1725.00 | x |
| 2020-12-31 | $2088.62 | $1725.00 | x |
| 2021-12-31 | $2326.49 | $1725.00 | x |
| 2022-12-31 | $2214.31 | $1725.00 | x |
| 2023-12-31 | $2288.12 | $1725.00 | x |
| 2024-12-31 | $2320.47 | $1725.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Merchants' National Properties Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 4.72%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 54.82%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 1.48x
- Recent ROE (4.72%) is below the historical average (6.38%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 7.19% | 63.89% | 0.08x | 1.37x | $-4.12 Million |
| 2016 | 7.86% | 75.02% | 0.07x | 1.40x | $-3.35 Million |
| 2017 | 9.11% | 77.30% | 0.09x | 1.30x | $-1.59 Million |
| 2018 | 7.60% | 184.32% | 0.04x | 1.00x | $-5.78 Million |
| 2019 | 5.51% | 93.24% | 0.04x | 1.32x | $-8.50 Million |
| 2020 | 5.13% | 69.56% | 0.05x | 1.62x | $-9.42 Million |
| 2021 | 12.19% | 178.89% | 0.05x | 1.35x | $4.66 Million |
| 2022 | -1.82% | -20.38% | 0.06x | 1.49x | $-23.85 Million |
| 2023 | 6.30% | 48.61% | 0.09x | 1.47x | $-7.68 Million |
| 2024 | 4.72% | 54.82% | 0.06x | 1.48x | $-11.12 Million |
Industry Comparison
This section compares Merchants' National Properties Inc's net assets metrics with peer companies in the Real Estate - Diversified industry.
Industry Context
- Industry: Real Estate - Diversified
- Average net assets among peers: $44,839,195,622
- Average return on equity (ROE) among peers: 5.72%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Merchants' National Properties Inc (MNPP) | $229.61 Million | 7.19% | 0.41x | $119.41 Million |
| Fastighets AB Balder (publ) (BALDF) | $4.66 Billion | 37.66% | 2.23x | $4.42 Billion |
| Bresler & Reiner Inc (BRER) | $221.94 Million | -4.18% | 3.15x | $286.68 |
| Chinese Estates Holdings Limited (CESTF) | $28.78 Billion | 2.16% | 0.30x | $71.54 Million |
| Central Pattana Public Company Limited (CPNNF) | $15.17 Billion | 14.49% | 1.89x | $3.86 Billion |
| Community Redevelopment Inc (CRDV) | $-732.85K | 0.00% | 0.00x | $450.08K |
| Daito Trust Construction Co.Ltd (DITTF) | $365.79 Billion | 19.02% | 1.75x | $30.07 Billion |
| Eco Depot Inc (ECDP) | $5.22 Million | -14.85% | 0.39x | $551.28 |
| Frasers Property Limited (FSRPF) | $15.12 Billion | 1.24% | 1.56x | $289.47 Million |
| 420 Property Management Inc (FTPM) | $-19.97 Million | 0.00% | 0.00x | $1.92 |
| Great Eagle Holdings Limited (GEAHF) | $18.67 Billion | 1.67% | 1.04x | $355.22 Million |